Jeong Eui-sun Emphasizes Challenge: "Let's Turn Crisis into Future Opportunity"

New Year's Gathering at Hyundai Motorstudio
External Uncertainties Should Not Cause Retraction
Strategic Cooperation Needed Even with Competitors

Chung Eui-sun, Chairman of Hyundai Motor Group, emphasized that the company should not be intimidated by external uncertainties that resemble crises. He also called for flexible changes, stating that "we must be able to strategically cooperate even with competitors" to respond to shifts in the industrial paradigm.

At the Group's New Year's meeting held on the 6th at Hyundai Motorstudio Goyang, Chairman Chung said, "Without crises, we become complacent with optimism, which makes us more vulnerable than any external crisis," and added, "In that sense, external stimuli can actually be beneficial to us."

Chairman Chung's remarks are interpreted as urging not to lose the spirit of challenge amid uncertain domestic and international economic conditions. With the new U.S. administration under Donald Trump taking office this month, changes in trade conditions are inevitable, and with domestic demand also shrinking, there is no need to be fearful in advance.

Hyundai Motor Group Chairman Chung Euisun is delivering a New Year's address at the '2025 Hyundai Motor Group New Year's Meeting' held on the 6th at Hyundai Motorstudio in Goyang, Gyeonggi Province. Photo by Kim Hyunmin

Hyundai Motor Group achieved solid results last year. Its main affiliates, Hyundai Motor and Kia, sold 7.23 million units domestically and internationally. Although sales volume slightly decreased compared to the previous year, profitability is expected to have improved due to factors such as exchange rates. The group is praised for smoothly advancing electrification by responding to the electric vehicle chasm (temporary demand stagnation) with various models including hybrids.

Amid rising internal and external uncertainties, the management environment has become challenging, but Chairman Chung urged a bold response. He said, "Even if the crisis is not what we expected, the world is already changing rapidly, customer expectations are rising daily, and market competition has become fiercer. We do not have the luxury to optimistically expect that because we did well last year, we will do well this year."

He added, "We must also be cautious not to fall into pessimism due to the challenges ahead," and "If we shrink back in a crisis, we only think about protecting what we currently have." He encouraged not to neglect innovation with a defensive attitude by falling into pessimism, just as the company has always become stronger after overcoming crises.

Hyundai Motor Group Chairman Chung Eui-sun is speaking at the '2025 Hyundai Motor Group New Year's Meeting' held on the 6th at Hyundai Motorstudio in Goyang, Gyeonggi Province. Chairman Chung, along with Vice Chairman Jang Jae-hoon and key presidents, had a roundtable Q&A session with employees. Photo by Kim Hyun-min

He also emphasized the importance of smoothly coping with crises. Chairman Chung said, "We must carefully prepare and respond to foreseeable challenges as we have done so far," and stressed, "It is not enough to simply eliminate crisis factors; we must comprehensively assess why such crises occur, their background, context, and historical flow, so that overcoming the crisis can lead to creating future opportunities."

He continued, "To respond to unforeseen crises, fundamentals are most important," and said, "If we have internal discussions that lead to objective analysis and comprehensive responses, unity moving toward goals, and flexible and open internal processes and organizational culture, we will be able to handle such crises."

Regarding the appointment of the first foreign CEO of Hyundai Motor, he said it was an expression of the will toward innovation. Chairman Chung stated, "In our company, regardless of nationality, gender, education, or years of experience, only capable people can become leaders, and we will create an environment where passionate workers can fully demonstrate their abilities," adding, "We must lead industrial paradigm changes and technological advancements, boldly invest in core areas, and strategically cooperate with competitors when necessary."

Hyundai Motor Group held its New Year's meeting at Namyang Research Center, the group's R&D hub in 2023, and at Autoland Gwangmyeong (Kia Gwangmyeong Plant), the first factory dedicated to electric vehicles being built in 2024. Hyundai Motorstudio Goyang, where the event was held, is a space that showcases products and technologies and directly engages frontline customers. Chairman Chung said, "This place is not only a space to exhibit our products but also to gain trust by demonstrating our technological capabilities, and above all, it is a space to show our vision to future generations who visit here and to dream together with us."

Chairman Chung Euisun of Hyundai Motor Group and other attendees are observing a moment of silence for the victims of the Jeju Air disaster at the '2025 Hyundai Motor Group New Year's Gathering' held on the 6th at Hyundai Motorstudio in Goyang, Gyeonggi Province. Photo by Kim Hyun-min

This content was produced with the assistance of AI translation services.